Creation and Discovery of Entrepreneurial Opportunities

Entrepreneurship the-
ory

Contents
Contents
INTRODUCTION...........................................................................................................................1
QUESTION 1 A..............................................................................................................................1
Evaluate the Creation and Discovery contexts of entrepreneurial opportunities........................1
QUESTION 2..................................................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship can broadly be defined as the creation or extraction of value. With this
definition, entrepreneurship is viewed as change, which may include other values than simply
economic ones. Entrepreneurs are the persons who are been engaged in looking for the
opportunity. They are also been involved in bringing out the most innovative and creative ideas
so that their business can grow and they can achieve goals and objectives. Present report will lay
emphasis on Creation and Discovery contexts of entrepreneurial opportunities. It will also reflect
on the extent to which the attitudes and behaviors are consistent
QUESTION 1 A
Evaluate the Creation and Discovery contexts of entrepreneurial opportunities.
Entrepreneurial opportunities: This can be defined as that situation where the
entrepreneur can be involved in selling the products and services at higher price than the cost of
the product. They seek opportunity where more profit can be made. The opportunities explored
by them can help entrepreneur in enhancing their profit as well as revenue. It has also been
analyzed that entrepreneurs must be engaged in taking opportunities by analyzing risk factors.
This will help them in gaining professional success. This aspect will assist their business in
growing.
Opportunity creation and opportunity discovery: According to the opportunity creation
theory of entrepreneurship, it has been analyzed that opportunity can be created by seeking the
market perception along with taking into entrepreneurs perception. In this entrepreneurs are been
involved in creating opportunity in new as well as existing market (Emami, 2017). This will
assist them in creating ideas so that they can disrupt the existing market. On the other hand
opportunity discovery theory of entrepreneurship basically means that discovered opportunities
already is been placed at existing market. The entrepreneurs do not need to create these types of
opportunities as it has already been discovered.
Similarities between opportunity creation and opportunity discovery: There are various
similarities between opportunity creation as well as opportunity discovery. It has been analyzed
from the research that both opportunity and discovery are been created from the imperfections of
the market. Entrepreneurs can only create and discover opportunity if there are many scope in
market in which they are dealing. In this the example of Swiggy and Zomato can be taken they
have discovered the opportunity from an imperfect market who lacks delivery of services. It has
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